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Pakistan
Overview
Last reviewed - 01 August 2024Pakistan, located in South Asia, is bordered by India to the east, China to the northeast, Afghanistan to the north and west, Iran to the southwest, and the Arabian Sea and the Gulf of Oman to the south. The northern and western highlands of Pakistan contain the towering Karakoram and Pamir mountain ranges, which include some of the World’s highest peaks: K2 (8,611 metres) and Nanga Parbat (8,126 metres). The Baluchistan Plateau lies to the west; the Thar Desert and expanse of alluvial plains, the Punjab, and Sindh lie to the east. The 1,000 mile long (1,609 km) Indus River and its tributaries flow through the country from the Kashmir region to the Arabian Sea. Pakistan is divided into 170 districts (including the capital of Islamabad and districts of Azad Kashmir). The official languages of Pakistan are Urdu and English, and the currency is the Pakistani rupee (PKR).
There is a great potential for investment and business opportunities in Pakistan in almost all sectors, considering the size of its population, as it is a habitat of more than 250 million people.
PwC is operating in Pakistan with its three active offices in the major cities of Karachi, Lahore, and Islamabad, covering a significant portion of industry and business.
Quick rates and dates
| Corporate income tax (CIT) rates | |
|---|---|
| Headline CIT rate (%) |
29 |
| Corporate income tax (CIT) due dates | |
|---|---|
| CIT return due date |
31 December for companies with financial year end 30 June, and 30 September for companies with financial year end 31 December. |
| CIT final payment due date |
31 December for companies with financial year end 30 June, and 30 September for companies with financial year end 31 December. |
| CIT estimated payment due dates |
Quarterly instalments on or before 25 September, 25 December, 25 March, and 15 June. |
| Personal income tax (PIT) rates | |
|---|---|
| Headline PIT rate (%) |
For salaried individuals: 35 For non-salaried individuals: 45 |
| Personal income tax (PIT) due dates | |
|---|---|
| PIT return due date |
30 September |
| PIT final payment due date |
30 September |
| PIT estimated payment due dates |
Quarterly instalments on or before 15 September, 15 December, 15 March, and 15 June. |
| Value-added tax (VAT) rates | |
|---|---|
| Standard VAT rate (%) |
For goods:18 For services: Ranges from 15% to 16% depending on the province. |
| Withholding tax (WHT) rates | |
|---|---|
| WHT rates (%) (Dividends/Interest/Royalties) |
Resident: 15 / 15 / 0; Non-resident: 15 / 10 / 15 |
| Capital gains tax (CGT) rates | |
|---|---|
| Headline corporate capital gains tax rate (%) |
See Pakistan's corporate tax summary for capital gain rates. |
| Headline individual capital gains tax rate (%) |
See Pakistan's individual tax summary for capital gain rates. |
| Net wealth/worth tax rates | |
|---|---|
| Headline net wealth/worth tax rate (%) |
1 |
| Inheritance and gift tax rates | |
|---|---|
| Headline inheritance tax rate (%) |
NA |
| Headline gift tax rate (%) |
NA |
Pakistan contacts
Pakistan contacts
Pakistan News
Tax Partner, PwC Pakistan
Tax Partner, PwC Pakistan